Tobias Tröger is a professor of private law, commercial and business law and jurisprudence at the House of Finance at Goethe-University Frankfurt am Main. He has advised the European parliament on banking supervision, is managing director of the European Banking Institute, and director at  The Leibniz Institute for Financial Research.

Although there is a lot of shoulder patting among EU legislators and executives, the purported achievements of the banking union project are questionable. This is particularly true if the overall goal was to create an integrated market for financial services in the euro area. Fragmentation, fuelled by the sovereign debt crisis, still prevails.